Pedcor develops, constructs, and manages market rate and affordable housing communities throughout the Midwest and western United States. The company was founded in 1987 when principals Gerald Pedigo and Bruce Cordingley developed the first affordable rental housing community in central Indiana. To date, Pedcor has developed in excess of 16,000 apartment units across Indiana, Ohio, Michigan, California, Illinois, Kentucky, Missouri, Nebraska, Tennessee, Alabama, Virginia, Iowa, South Carolina, Colorado, Texas, Oregon, and North Carolina.

Mr. Pedigo has been involved in residential and commercial real estate development since 1958. He attended Butler University and subsequently was employed in the business of single-family construction and sales.

In 1962, Mr. Pedigo began his own firm while constructing approximately 400 homes and expanded his business to include commercial and industrial activities. Beginning in 1966, Mr. Pedigo concentrated on the commercial side of the construction business, forming Gerald K. Pedigo Corporation to provide real estate development services; Pedigo Construction Company, Inc. to provide construction services; and Pedigo & Associates to provide management services. His involvement included all facets of the industry including construction, ownership, marketing/leasing and management. He completed over 100 commercial and office buildings from $100,000 to $8,000,000. He was also a partner in several partnerships that owned and developed commercial and residential properties in Indiana, Florida, and Tennessee.

In 1986, as the tax shelter incentives were being revised, Mr. Pedigo sold the majority of his holdings and concentrated on general construction. In 1987, he joined Bruce Cordingley in forming Pedcor Investments to pursue affordable housing development.

Mr. Pedigo is a Director of the Executive Committee of International City Bank, (Long Beach and San Diego, California) and Director of Fidelity Federal Bancorp (Evansville, Indiana). He is Chairman of Pedcor Bancorp, the bank holding company for International City Bank, and Pedcor Financial, LLC, the holding company for United Fidelity Bank. He is a member of the Murat Shrine in Indianapolis and various trade associations as well as godfather in St. Mary’s Child Center.

Bruce A. Cordingley

President & CEO

Bruce A. Cordingley, President & CEO

Bruce Cordingley is the President and CEO of the Pedcor Companies, a privately held group of over 200 companies, engaged in: (i) the development, construction, ownership and management of real estate and (ii) in finance and insurance. The Pedcor Companies started their activities in 1987 developing affordable housing in Indianapolis, Indiana.

The Pedcor Companies currently have over 650 employees located in fourteen states with 150 employees located at its headquarters at Pedcor Square in Carmel, Indiana. The Pedcor Companies own and manage over 15,000 apartments which they had previously developed and built. The Pedcor Companies also include two bank holding companies, a savings bank, a commercial bank, and two insurance companies. In a public/private partnership with the City of Carmel, the Pedcor Companies have developed in Carmel’s new City Center and in the Arts and Design district several Georgian style developments including: Carmel City Center (a mixed use midrise development), Pedcor Square (an office campus), The Indiana Design Center (one of 20 design centers in the U.S.) and the Old Town Shops (in the Arts District).

Bruce had previously been a partner with the law firm of Ice Miller specializing in real estate development and finance until 1990 when he left to spend full time on The Pedcor Companies. He served in the U.S. Army as a reserve officer until 1976 when he was discharged as a Captain.

Bruce received his BSIM in Industrial Management (Purdue University, 1968), Juris Doctor (Harvard Law School, 1971), MA in Economics (Indiana University, 2002), completed Graduate courses in Mathematical Finance (Oxford University, 2002-2003), and an MS in International Finance (University of Maryland, 2006). He is a member of the bar in Indiana and Massachusetts and is a licensed real estate broker.

Bruce is happily married to Denise Cordingley (formerly a French teacher at Park Tudor), and they have three children, Alison (a real estate developer with The Pedcor Companies), Desiree (a money manager with Bessemer Trust in New York City), and Exton (a Captain and JAG officer in the U.S. Army), and five grandchildren. p>

Phillip J. Stoffregen

Executive Vice President & COO

Phillip J. Stoffregen, Executive Vice President & COO

pjstoffy@pedcor.net

Mr. Stoffregen has been involved in commercial and residential development and financing since 1984. He graduated in 1980 from Indiana University (BS-Business Finance) with departmental honors. In 1981 he received his MBA degree from Indiana University (Financial Economics). In 1984 he graduated with Honors from the Indiana University School of Law and joined Ice Miller Donadio and Ryan, Indianapolis, Indiana, as an associate, becoming a partner active in both the Real Estate and Municipal Finance Sections of the firm in 1991. His legal practice focused on taxable and tax-exempt financing for, and development of, single-family and multifamily housing. Mr. Stoffregen served in a bond counsel capacity to the Indiana Housing Finance Authority and other Indiana issuers for various housing related tax-exempt bond-financing programs. He represented numerous for-profit and not-for-profit multifamily housing developers, lenders and investors, primarily in the area of low income housing tax credit, financing and development issues.

In 1992, Mr. Stoffregen withdrew from Ice Miller and joined Pedcor Investments, LLC as a Principal where he is directly responsible for apartment development, construction and financing activities. Pedcor Investments, LLC and its affiliates have developed in excess of 15,000 apartments since inception, most of which participate in the low income housing tax credit program. He is currently Executive Vice President and COO of Pedcor Investments, LLC.

Mr. Stoffregen is a Director/Member of the Executive Committee/Executive Vice President of Fidelity Federal Bancorp which is the holding company for United Fidelity Bank, Evansville, Indiana and a Director/Executive Vice President of Pedcor Capital, LLC and Pedcor Financial, LLC, which are upper tier bank holding companies for International City Bank, Long Beach, California and United Fidelity Bank, respectively. Mr. Stoffregen and his partners in Pedcor Investments, LLC own and control such bank holding companies.

In 2012, Mr. Stoffregen joined the Urban Land Institute (ULI), a nationally recognized organization in the fields of development, land use and urban planning, where he is a member of the Affordable/Workforce Housing Council. Mr. Stoffregen has also served as a director of the Martin Luther King Community Development Corporation (1991 to 2000), and as a member of the board of directors for Coburn Place Safehaven, Inc., a not-for-profit operating transitional housing for victims of domestic violence (1996 to 2012).

What We Stand For

At Pedcor we value the idea that decent housing should be available to everyone, and we ensure our values enter our communities by planning, constructing, and managing high-quality developments that are both affordable and desirable.

Commercial Projects

Starting in 2003, Pedcor’s collaboration with the city of Carmel, as well as with partners in the city’s private sector, has led to multiple developments throughout Carmel, including Carmel City Center, The Residences at Carmel City Center, Carmel Old Town Shops, Indiana Design Center, and the Nash Building.

Starting in 2003, Pedcor's collaboration with the city of Carmel as well as partners in the city's private sector has led to multiple
developments throughout Carmel, including the Carmel City Center, The Residences at Carmel City Center, Carmel Old Town Shops, Indiana Design Center, and
The Commons at Carmel City Center.

Pedcor Investments, A Limited Liability Company (Pedcor) was founded in 1987 when its original principals, Gerald K. Pedigo and Bruce A. Cordingley, developed and constructed the first IRC Section 42 Low Income Housing Tax Credit (LIHTC) rental housing project in the State of Indiana. Today, Pedcor is the largest developer of affordable rental housing in Indiana’s multifamily housing tax credit program, and according to Affordable Housing Finance Magazine Pedcor consistently remains one of the Top 10 developers and owners/managers of LIHTC units in the country. Pedcor has established a reputation as an innovative development company with a solid history of identifying active rental housing markets. Our ability to construct and manage conventional and affordable apartment developments in compliance with IRC Section 42 (9% LIHTC transactions) and IRC Section 142 (4% LIHTC tax-exempt bond transactions) is demonstrated through our residential portfolio.

Team Members

CLOSE

Gerald K. Pedigo

Chairman of the Board

Gerald K. Pedigo, Chairman of the Board

Mr. Pedigo has been involved in residential and commercial real estate development since 1958. He attended Butler University and subsequently was employed in the business of single-family construction and sales.

In 1962, Mr. Pedigo began his own firm while constructing approximately 400 homes and expanded his business to include commercial and industrial activities. Beginning in 1966, Mr. Pedigo concentrated on the commercial side of the construction business, forming Gerald K. Pedigo Corporation to provide real estate development services; Pedigo Construction Company, Inc. to provide construction services; and Pedigo & Associates to provide management services. His involvement included all facets of the industry including construction, ownership, marketing/leasing and management. He completed over 100 commercial and office buildings from $100,000 to $8,000,000. He was also a partner in several partnerships that owned and developed commercial and residential properties in Indiana, Florida, and Tennessee.

In 1986, as the tax shelter incentives were being revised, Mr. Pedigo sold the majority of his holdings and concentrated on general construction. In 1987, he joined Bruce Cordingley in forming Pedcor Investments to pursue affordable housing development.

Mr. Pedigo is a Director of the Executive Committee of International City Bank, (Long Beach and San Diego, California) and Director of Fidelity Federal Bancorp (Evansville, Indiana). He is Chairman of Pedcor Bancorp, the bank holding company for International City Bank, and Pedcor Financial, LLC, the holding company for United Fidelity Bank. He is a member of the Murat Shrine in Indianapolis and various trade associations as well as godfather in St. Mary’s Child Center.

CLOSE

Bruce A. Cordingley

President & CEO

Bruce A. Cordingley, President & CEO

Bruce Cordingley is the President and CEO of the Pedcor Companies, a privately held group of over 200 companies, engaged in: (i) the development, construction, ownership and management of real estate and (ii) in finance and insurance. The Pedcor Companies started their activities in 1987 developing affordable housing in Indianapolis, Indiana.

The Pedcor Companies currently have over 650 employees located in fourteen states with 150 employees located at its headquarters at Pedcor Square in Carmel, Indiana. The Pedcor Companies own and manage over 15,000 apartments which they had previously developed and built. The Pedcor Companies also include two bank holding companies, a savings bank, a commercial bank, and two insurance companies. In a public/private partnership with the City of Carmel, the Pedcor Companies have developed in Carmel’s new City Center and in the Arts and Design district several Georgian style developments including: Carmel City Center (a mixed use midrise development), Pedcor Square (an office campus), The Indiana Design Center (one of 20 design centers in the U.S.) and the Old Town Shops (in the Arts District).

Bruce had previously been a partner with the law firm of Ice Miller specializing in real estate development and finance until 1990 when he left to spend full time on The Pedcor Companies. He served in the U.S. Army as a reserve officer until 1976 when he was discharged as a Captain.

Bruce received his BSIM in Industrial Management (Purdue University, 1968), Juris Doctor (Harvard Law School, 1971), MA in Economics (Indiana University, 2002), completed Graduate courses in Mathematical Finance (Oxford University, 2002-2003), and an MS in International Finance (University of Maryland, 2006). He is a member of the bar in Indiana and Massachusetts and is a licensed real estate broker.

Bruce is happily married to Denise Cordingley (formerly a French teacher at Park Tudor), and they have three children, Alison (a real estate developer with The Pedcor Companies), Desiree (a money manager with Bessemer Trust in New York City), and Exton (a Captain and JAG officer in the U.S. Army), and five grandchildren. p>

CLOSE

Phillip J. Stoffregen

Executive Vice President & COO

Phillip J. Stoffregen, Executive Vice President & COO

pjstoffy@pedcor.net

Mr. Stoffregen has been involved in commercial and residential development and financing since 1984. He graduated in 1980 from Indiana University (BS-Business Finance) with departmental honors. In 1981 he received his MBA degree from Indiana University (Financial Economics). In 1984 he graduated with Honors from the Indiana University School of Law and joined Ice Miller Donadio and Ryan, Indianapolis, Indiana, as an associate, becoming a partner active in both the Real Estate and Municipal Finance Sections of the firm in 1991. His legal practice focused on taxable and tax-exempt financing for, and development of, single-family and multifamily housing. Mr. Stoffregen served in a bond counsel capacity to the Indiana Housing Finance Authority and other Indiana issuers for various housing related tax-exempt bond-financing programs. He represented numerous for-profit and not-for-profit multifamily housing developers, lenders and investors, primarily in the area of low income housing tax credit, financing and development issues.

In 1992, Mr. Stoffregen withdrew from Ice Miller and joined Pedcor Investments, LLC as a Principal where he is directly responsible for apartment development, construction and financing activities. Pedcor Investments, LLC and its affiliates have developed in excess of 15,000 apartments since inception, most of which participate in the low income housing tax credit program. He is currently Executive Vice President and COO of Pedcor Investments, LLC.

Mr. Stoffregen is a Director/Member of the Executive Committee/Executive Vice President of Fidelity Federal Bancorp which is the holding company for United Fidelity Bank, Evansville, Indiana and a Director/Executive Vice President of Pedcor Capital, LLC and Pedcor Financial, LLC, which are upper tier bank holding companies for International City Bank, Long Beach, California and United Fidelity Bank, respectively. Mr. Stoffregen and his partners in Pedcor Investments, LLC own and control such bank holding companies.

In 2012, Mr. Stoffregen joined the Urban Land Institute (ULI), a nationally recognized organization in the fields of development, land use and urban planning, where he is a member of the Affordable/Workforce Housing Council. Mr. Stoffregen has also served as a director of the Martin Luther King Community Development Corporation (1991 to 2000), and as a member of the board of directors for Coburn Place Safehaven, Inc., a not-for-profit operating transitional housing for victims of domestic violence (1996 to 2012).

CLOSE

Thomas G. Crowe

Executive Vice President - Development & Finance

Thomas G. Crowe, Executive Vice President - Development & Finance

Mr. Crowe graduated from the University of Notre Dame in 1988 (BA – Accounting). He worked for NBD – First Chicago Corporation for approximately eight years as a commercial lender in several departments, leaving as a Second Vice President. His responsibilities during his tenure at the bank included lending to real estate developers, builders, commercial contractors and architects/engineers. Additionally, Mr. Crowe was responsible for underwriting of the bank’s investment in limited partnership interests for affordable housing.

Mr. Crowe joined Pedcor Investments in 1996 and has since advanced to Executive Vice President. During his tenure with Pedcor, Mr. Crowe has been responsible for the development and financing of thousands of apartment units in multiple states. Mr. Crowe has served as a guest panelist for the Urban Land Institute, the Nebraska Investment Finance Authority, and the Illinois Housing Development Authority. His responsibilities include oversight of all aspects of apartment development transactions, including site selection, financial feasibility, plan production, debt and equity procurement, partnership agreement negotiation, legal documentation and investor relations.

Close

Bancorp

Pedcor Bancorp has been providing credit facilities to Pedcor related housing and commercial properties since its formation in 1996. It is a bank holding company that owns 84% of International City Bank, 100% of Pedcor Funding Corp, and 100% of Pedcor Assurance Company. Pedcor Bancorp’s parent company is Pedcor Capital, LLC.

International City Bank, N.A. is a $180 million national bank specializing in commercial real estate and construction lending located in Long Beach and San Diego, California. In addition to its lending activities, International City Bank owns several subsidiaries known collectively as the Affordable Housing Group, which own, manage, and develop affordable housing.

Pedcor Assurance Company is a captive insurance company headquartered in Burlington, Vermont.

Team Members

CLOSE

Gerald K. Pedigo

Chairman of the Board

Gerald K. Pedigo, Chairman of the Board

Mr. Pedigo has been involved in residential and commercial real estate development since 1958. He attended Butler University and subsequently was employed in the business of single-family construction and sales.

In 1962, Mr. Pedigo began his own firm while constructing approximately 400 homes and expanded his business to include commercial and industrial activities. Beginning in 1966, Mr. Pedigo concentrated on the commercial side of the construction business, forming Gerald K. Pedigo Corporation to provide real estate development services; Pedigo Construction Company, Inc. to provide construction services; and Pedigo & Associates to provide management services. His involvement included all facets of the industry including construction, ownership, marketing/leasing and management. He completed over 100 commercial and office buildings from $100,000 to $8,000,000. He was also a partner in several partnerships that owned and developed commercial and residential properties in Indiana, Florida, and Tennessee.

In 1986, as the tax shelter incentives were being revised, Mr. Pedigo sold the majority of his holdings and concentrated on general construction. In 1987, he joined Bruce Cordingley in forming Pedcor Investments to pursue affordable housing development.

Mr. Pedigo is a Director of the Executive Committee of International City Bank, (Long Beach and San Diego, California) and Director of Fidelity Federal Bancorp (Evansville, Indiana). He is Chairman of Pedcor Bancorp, the bank holding company for International City Bank, and Pedcor Financial, LLC, the holding company for United Fidelity Bank. He is a member of the Murat Shrine in Indianapolis and various trade associations as well as godfather in St. Mary’s Child Center.

CLOSE

Bruce A. Cordingley

President & CEO

Bruce A. Cordingley, President & CEO

Bruce Cordingley is the President and CEO of the Pedcor Companies, a privately held group of over 200 companies, engaged in: (i) the development, construction, ownership and management of real estate and (ii) in finance and insurance. The Pedcor Companies started their activities in 1987 developing affordable housing in Indianapolis, Indiana.

The Pedcor Companies currently have over 650 employees located in fourteen states with 150 employees located at its headquarters at Pedcor Square in Carmel, Indiana. The Pedcor Companies own and manage over 15,000 apartments which they had previously developed and built. The Pedcor Companies also include two bank holding companies, a savings bank, a commercial bank, and two insurance companies. In a public/private partnership with the City of Carmel, the Pedcor Companies have developed in Carmel’s new City Center and in the Arts and Design district several Georgian style developments including: Carmel City Center (a mixed use midrise development), Pedcor Square (an office campus), The Indiana Design Center (one of 20 design centers in the U.S.) and the Old Town Shops (in the Arts District).

Bruce had previously been a partner with the law firm of Ice Miller specializing in real estate development and finance until 1990 when he left to spend full time on The Pedcor Companies. He served in the U.S. Army as a reserve officer until 1976 when he was discharged as a Captain.

Bruce received his BSIM in Industrial Management (Purdue University, 1968), Juris Doctor (Harvard Law School, 1971), MA in Economics (Indiana University, 2002), completed Graduate courses in Mathematical Finance (Oxford University, 2002-2003), and an MS in International Finance (University of Maryland, 2006). He is a member of the bar in Indiana and Massachusetts and is a licensed real estate broker.

Bruce is happily married to Denise Cordingley (formerly a French teacher at Park Tudor), and they have three children, Alison (a real estate developer with The Pedcor Companies), Desiree (a money manager with Bessemer Trust in New York City), and Exton (a Captain and JAG officer in the U.S. Army), and five grandchildren. p>

Fidelity Federal Bancorp, located in Evansville, Indiana, is a $214 million thrift holding company of United Fidelity Bank, fsb, a federally chartered savings bank. United Fidelity Bank specializes in commercial banking.

Pedcor Residential, LLC primarily develops commercial real estate and housing properties located in redevelopment areas. Pedcor Residential, LLC owns 100% of The Commons at City Center, LLC and Copper Development, LLC. The Commons at City Center develops residential housing and Copper Development rehabilitates single family homes located in redevelopment areas around Indianapolis.

Team Members

CLOSE

Gerald K. Pedigo

Chairman of the Board

Gerald K. Pedigo, Chairman of the Board

Mr. Pedigo has been involved in residential and commercial real estate development since 1958. He attended Butler University and subsequently was employed in the business of single-family construction and sales.

In 1962, Mr. Pedigo began his own firm while constructing approximately 400 homes and expanded his business to include commercial and industrial activities. Beginning in 1966, Mr. Pedigo concentrated on the commercial side of the construction business, forming Gerald K. Pedigo Corporation to provide real estate development services; Pedigo Construction Company, Inc. to provide construction services; and Pedigo & Associates to provide management services. His involvement included all facets of the industry including construction, ownership, marketing/leasing and management. He completed over 100 commercial and office buildings from $100,000 to $8,000,000. He was also a partner in several partnerships that owned and developed commercial and residential properties in Indiana, Florida, and Tennessee.

In 1986, as the tax shelter incentives were being revised, Mr. Pedigo sold the majority of his holdings and concentrated on general construction. In 1987, he joined Bruce Cordingley in forming Pedcor Investments to pursue affordable housing development.

Mr. Pedigo is a Director of the Executive Committee of International City Bank, (Long Beach and San Diego, California) and Director of Fidelity Federal Bancorp (Evansville, Indiana). He is Chairman of Pedcor Bancorp, the bank holding company for International City Bank, and Pedcor Financial, LLC, the holding company for United Fidelity Bank. He is a member of the Murat Shrine in Indianapolis and various trade associations as well as godfather in St. Mary’s Child Center.

CLOSE

Bruce A. Cordingley

President & CEO

Bruce A. Cordingley, President & CEO

Bruce Cordingley is the President and CEO of the Pedcor Companies, a privately held group of over 200 companies, engaged in: (i) the development, construction, ownership and management of real estate and (ii) in finance and insurance. The Pedcor Companies started their activities in 1987 developing affordable housing in Indianapolis, Indiana.

The Pedcor Companies currently have over 650 employees located in fourteen states with 150 employees located at its headquarters at Pedcor Square in Carmel, Indiana. The Pedcor Companies own and manage over 15,000 apartments which they had previously developed and built. The Pedcor Companies also include two bank holding companies, a savings bank, a commercial bank, and two insurance companies. In a public/private partnership with the City of Carmel, the Pedcor Companies have developed in Carmel’s new City Center and in the Arts and Design district several Georgian style developments including: Carmel City Center (a mixed use midrise development), Pedcor Square (an office campus), The Indiana Design Center (one of 20 design centers in the U.S.) and the Old Town Shops (in the Arts District).

Bruce had previously been a partner with the law firm of Ice Miller specializing in real estate development and finance until 1990 when he left to spend full time on The Pedcor Companies. He served in the U.S. Army as a reserve officer until 1976 when he was discharged as a Captain.

Bruce received his BSIM in Industrial Management (Purdue University, 1968), Juris Doctor (Harvard Law School, 1971), MA in Economics (Indiana University, 2002), completed Graduate courses in Mathematical Finance (Oxford University, 2002-2003), and an MS in International Finance (University of Maryland, 2006). He is a member of the bar in Indiana and Massachusetts and is a licensed real estate broker.

Bruce is happily married to Denise Cordingley (formerly a French teacher at Park Tudor), and they have three children, Alison (a real estate developer with The Pedcor Companies), Desiree (a money manager with Bessemer Trust in New York City), and Exton (a Captain and JAG officer in the U.S. Army), and five grandchildren. p>

CLOSE

Kirby Purciful

Senior Vice President & Chief Financial Officer

Kirby Purciful, Senior Vice President & Chief Financial Officer

CLOSE

Ronald Brown

Senior Vice President & General Counsel

Ronald Brown, Senior Vice President & General Counsel

Close

Accounting

Information Coming Soon!

Team Members

CLOSE

Doug Boggs

Senior Vice President & CFO (Real Estate)

Doug Boggs, Senior Vice President & CFO (Real Estate)

CLOSE

Shuron Agnew

Vice President & Controller

Shuron Agnew, Vice President & Controller

CLOSE

Terry Grevel

Vice President & Divisional Controller

Terry Grevel, Vice President & Divisional Controller

Close

Design Group

Founded in 2004, Pedcor Design Group is a professional practice of architecture, composed of architects, urbanists, modernists, traditionalists, innovators, inventors, and designers, who specialize in the design and creation of new urban environments.

We share with our urban clients, municipal partners, developers and construction professionals, a strong sense of Community, rooted in trust, integrity, professionalism, and design excellence. Our team consists of diversely talented and dedicated people who share the enthusiasm, pride, and excitement of creating reality from the dreams and visions of many. Collectively, we are collaborators with owners, governments, lenders, and investors, who are all in the business of creating beautiful buildings, elegant plazas, and memorable public spaces.

Professional Staff

Pedcor Design Group's professional staff is composed of experienced licensed architects, highly talented designers, graduate architect-interns, professional interior designers, and skilled technical personnel. The combined experience of PDG's professional staff spans more than 150 years of very high quality commercial and residential development.

BIM Technology Veterans

Pedcor Design Group's computer technology brings a robust capability to the practice of architecture using advanced CAD (computer aided design) and BIM (building information modeling) methods of producing, not just the necessary construction documentation, but an unprecedented expertise in three dimensional methods of design visualization and presentation at all levels of the project. From the initial concepts to the most minute details, the professional staff at PDG are fully engaged in communicating design through the use of three dimensional visualizations, modeling, and documentation.

The professionals at PDG, long before its founding, chose a path of architectural practice that was fully engaged in the design of buildings and interiors using ground-breaking three dimensional computer design software. In the late 1980's and early 1990's, while even the largest AlE firms were still experimenting with two-dimensional CAO systems, PDG's founders and architects were successfully leveraging innovative three-dimensional software in their practices. When BIM became the new paradigm in architectural practice, we were already many years down that road.

As a result of this rich technological foundation, PDG brings added value to every project with rapid visualization and modeling capabilities that allow the client to experience their building and site in photo-realistic images. and to have a greater participation in every aspect of the design process.

Team Members

CLOSE

Stephen P. Sturtz

President - Pedcor Design Group, LLC

Stephen P. Sturtz, President - Pedcor Design Group, LLC

CLOSE

James R. Stutzman, AIA

Vice President - Pedcor Design Group, LLC

James R. Stutzman, AIA, Vice President - Pedcor Design Group, LLC

Close

Residential Development

The business now conducted by Pedcor began in 1987 when its original principals, Gerald K. Pedigo and Bruce A. Cordingley, developed and constructed the first IRC Section 42 Low Income Housing Tax Credit (LIHTC) rental housing project in central Indiana. Today, Pedcor is an active and seasoned developer of affordable and conventional housing in what is currently a 17 state footprint, primarily in the Midwest United States. Pedcor has established a reputation as an innovative development company with a solid history of identifying active rental housing markets. Our ability to construct and manage conventional and affordable apartment developments in compliance with IRC Section 42 (9% LIHTC transactions) and IRC Section 142 (4% LIHTC tax-exempt bond transactions) is demonstrated through our residential portfolio.

Pedcor has used a combination of various construction and permanent loan structures. Construction financing has been provided by various community and national lending institutions offering traditional construction loan programs and letter of credit enhancements. Permanent financing for Pedcor’s developments has been provided by Federal National Mortgage Association, FHA 223(f), FHA 221(d)(4), Rural Housing Program, the Federal Home Loan Bank with the assistance of a consortium of member banks, and savings and loans utilizing sundry conventional and tax-exempt financing structures. Equity participants include numerous national banks, thrifts, and regional and national syndicators, as well as individuals and large publicly held or privately owned corporations. In aggregate, Pedcor has raised over $1 billion in debt and $640 million in LIHTC equity proceeds since its inception, funding in excess of $1.64 billion in real estate assets.

Pedcor’s development portfolio is comprised of 53 conventionally financed 9% tax credit partnerships, 61 tax-exempt 4% bond financed partnerships and 13 market rate partnerships, in addition to a special use facility providing a safe haven for women who have been victims of domestic violence. In summary, since inception, Pedcor has successfully closed 127 partnerships consisting of 16,808 units (13,512 tax credit and 3,296 market) located within 85 communities. Including the Pedcor Homes and Village Community Development housing portfolios, development and acquisition activities consist of an aggregate portfolio of 19,096 units. Pedcor has a 17 state footprint that includes Indiana, Ohio, Michigan, California, Illinois, Kentucky, Missouri, Nebraska, Tennessee, Alabama, Virginia, Iowa, South Carolina, Colorado, Texas, Oregon, and North Carolina.

Team Members

Development

CLOSE

Phillip J. Stoffregen

Executive Vice President & COO

Phillip J. Stoffregen, Executive Vice President & COO

pjstoffy@pedcor.net

Mr. Stoffregen has been involved in commercial and residential development and financing since 1984. He graduated in 1980 from Indiana University (BS-Business Finance) with departmental honors. In 1981 he received his MBA degree from Indiana University (Financial Economics). In 1984 he graduated with Honors from the Indiana University School of Law and joined Ice Miller Donadio and Ryan, Indianapolis, Indiana, as an associate, becoming a partner active in both the Real Estate and Municipal Finance Sections of the firm in 1991. His legal practice focused on taxable and tax-exempt financing for, and development of, single-family and multifamily housing. Mr. Stoffregen served in a bond counsel capacity to the Indiana Housing Finance Authority and other Indiana issuers for various housing related tax-exempt bond-financing programs. He represented numerous for-profit and not-for-profit multifamily housing developers, lenders and investors, primarily in the area of low income housing tax credit, financing and development issues.

In 1992, Mr. Stoffregen withdrew from Ice Miller and joined Pedcor Investments, LLC as a Principal where he is directly responsible for apartment development, construction and financing activities. Pedcor Investments, LLC and its affiliates have developed in excess of 15,000 apartments since inception, most of which participate in the low income housing tax credit program. He is currently Executive Vice President and COO of Pedcor Investments, LLC.

Mr. Stoffregen is a Director/Member of the Executive Committee/Executive Vice President of Fidelity Federal Bancorp which is the holding company for United Fidelity Bank, Evansville, Indiana and a Director/Executive Vice President of Pedcor Capital, LLC and Pedcor Financial, LLC, which are upper tier bank holding companies for International City Bank, Long Beach, California and United Fidelity Bank, respectively. Mr. Stoffregen and his partners in Pedcor Investments, LLC own and control such bank holding companies.

In 2012, Mr. Stoffregen joined the Urban Land Institute (ULI), a nationally recognized organization in the fields of development, land use and urban planning, where he is a member of the Affordable/Workforce Housing Council. Mr. Stoffregen has also served as a director of the Martin Luther King Community Development Corporation (1991 to 2000), and as a member of the board of directors for Coburn Place Safehaven, Inc., a not-for-profit operating transitional housing for victims of domestic violence (1996 to 2012).

CLOSE

Alison S. Birge

Senior Vice President - Development & Finance

Alison S. Birge, Senior Vice President - Development & Finance

Ms. Birge graduated from Georgetown University in 1996 and earned an M.B.A. from the University of Michigan in 2004. She joined Pedcor in June, 2004 having previously worked for organizations including Toyota Motor Sales, Conseco Insurance Corp. and Frito-Lay.

Ms. Birge and her team are responsible for development in Tennessee, Iowa, Colorado, Utah and Oklahoma.

CLOSE

Thomas G. Crowe

Executive Vice President - Development & Finance

Thomas G. Crowe, Executive Vice President - Development & Finance

+1 (317) 587-0341, tgcrowe@pedcor.net

Mr. Crowe graduated from the University of Notre Dame in 1988 (BA – Accounting). He worked for NBD – First Chicago Corporation for approximately eight years as a commercial lender in several departments, leaving as a Second Vice President. His responsibilities during his tenure at the bank included lending to real estate developers, builders, commercial contractors and architects/engineers. Additionally, Mr. Crowe was responsible for underwriting of the bank’s investment in limited partnership interests for affordable housing.

Mr. Crowe joined Pedcor Investments in 1996 and has since advanced to Executive Vice President. During his tenure with Pedcor, Mr. Crowe has been responsible for the development and financing of thousands of apartment units in multiple states. Mr. Crowe has served as a guest panelist for the Urban Land Institute, the Nebraska Investment Finance Authority, and the Illinois Housing Development Authority. His responsibilities include oversight of all aspects of apartment development transactions, including site selection, financial feasibility, plan production, debt and equity procurement, partnership agreement negotiation, legal documentation and investor relations.

Developers

CLOSE

Michael S. Byron

Vice President – Development

Michael S. Byron, Vice President – Development

+1 (317) 278-2702, mbyron@pedcor.net

Mr. Byron graduated from Indiana University in 1995 and earned a J.D. from the Valparaiso University School of Law in 1999.

Mr. Byron joined Pedcor in October, 2007, having previously worked as a staff attorney for the Indiana Department of Environmental Management, Office of Legal Counsel, Department of Enforcement, as well as an associate in the private practice of law for a local law firm focusing on litigation, real estate and environmental law.

Mr. Byron currently serves as the Director of Down Syndrome Indiana, Dads Appreciating Down Syndrome (DSI D.A.D.S.) and also currently serves as a member on the Indiana Advisory Board of Best Buddies Indiana.

CLOSE

Brandon C. Delk

Vice President - Development

Brandon C. Delk, Vice President - Development

bdelk@pedcor.net

Mr. Delk graduated from Indiana University Kelley School of Business – Bloomington in 2010 with a B.S. in Real Estate Finance and Business Management. While attending Indiana University, he received a first place honor for his involvement in the Stanley E. Hunt Development Case Study competition in the fall of 2009. Brandon joined Pedcor Investments in July, 2010. Mr. Delk is currently working on his Masters of Business Administration at the Kelley School of Business – Indianapolis with a concentration in Finance.

CLOSE

Craig H. Lintner

Senior Vice President - Development

Craig H. Lintner, Senior Vice President - Development

+1 (317) 208-3769, clintner@pedcor.net

Mr. Lintner has been involved in residential development and engineering since 1994. He graduated from Iowa State University in 1994 with a BS in Civil Engineering and joined Landplan Engineering of Lawrence, KS working as a Project Engineer and Project Manager. In 1997, Mr. Lintner began working at Simmons Development Corporation as Vice President of Development developing residential and master- planned communities in the Kansas City metropolitan area. From 2001 to 2004, Mr. Lintner worked for Dura Builders, Inc. in Indianapolis, IN as Land Development Coordinator. In 2004, Dura Builders was acquired by KB Homes and Mr. Lintner’s responsibility expanded to Director and eventually Vice President of Land Acquisition and Planning. During this time, he directed all aspects of acquisition, purchase agreements, entitlement, due diligence, corporate land packages and development.

Mr. Lintner joined Pedcor in 2007 and has since advanced to Senior Vice President. During his tenure with Pedcor, Mr. Lintner has been responsible for the development of thousands of apartment units in multiple states. In 2013, Mr. Lintner was appointed Vice President of Village Capital Corporation where he assists in the development of their real estate.

Mr. Lintner is a registered Professional Engineer in Indiana and holds a State of Indiana Real Estate Salesperson License. He is a Board Member of the Hawthorne Community Center in Indianapolis.

CLOSE

Ryan M. Rodgers

Vice President – Development

Ryan M. Rodgers, Vice President – Development

+1 (317) 705-7970, rrodgers@pedcor.net

Mr. Rodgers graduated from Purdue University in 1998 and earned a Juris Doctor degree in 2001 from Indiana University Maurer School of Law. Prior to joining Pedcor, Mr. Rodgers worked in the private practice of law in the areas of real estate and corporate litigation. Additionally, Mr. Rodgers was a principal in a local residential real estate company and holds a State of Indiana Real Estate Salesperson License.

CLOSE

Michael S. Smith

Senior Vice President - Development

Michael S. Smith, Senior Vice President - Development

+1 (317) 705-7924, mikes@pedcor.net

Mr. Smith is a graduate of Michigan State University, School of Business. He has nearly 30 years of real estate experience with various Midwest development and property management firms including Cardinal Industries Inc., Lexford Realty, Equity Residential Trust, Thompson and Thrift Management, Inc., and J.C. Hart Apartments. Mike’s experience includes site and market evaluations, site development, entitlements, construction turnover, asset management and property management of a portfolio of over 10,000 units in 9 states. In November 2003, he joined Pedcor Investments as a Vice President of Development and holds both an Indiana real estate sales license and CPM designation from IREM.

CLOSE

Patrick J. Stoffregen

Vice President - Development

Patrick J. Stoffregen, Vice President - Development

+1 (317) 564-5860, pstroffregen@pedcor.net

Mr. Stoffregen graduated with distinction from Indiana University – Bloomington in 2009 with a BA in East Asian Languages and Cultures and a Music Minor. A recipient of the Alpine Prize for Japanese Studies, he spent one year in Suzaka City, Nagano Prefecture on the Japan Exchange and Teaching Program as an Assistant Language Teacher. There, he team-taught high school English Oral Communications classes with Japanese Teachers of English. After returning to Indiana, Mr. Stoffregen joined Pedcor Investments in 2011 to develop Iowa, Minnesota, Tennesse, North Carolina, Illinois and Colorado.

CLOSE

Jean Latsha

Land Acquisition Manager

Jean Latsha, Land Acquisition Manager

+1 (317) 208-3767, jlatsha@pedcor.net

Ms. Latsha holds a Bachelor’s Degree in Philosophy from the University of Texas at Austin and has been involved in affordable housing development since 2005. She was employed by the Cesar Chavez Foundation, a non-profit corporation, for six years as a project manager and new business manager. There she was responsible for the production of affordable housing development in Texas, from site selection through financing, construction, and lease-up, utilizing several different funding sources including LIHTC, HOME, USDA Section 514/516 funds, Neighborhood Stabilization Program, and HUD Section 202 funds. She joined the Texas Department of Housing and Community Affairs in February, 2012 as the Competitive (9%) HTC Administrator, and was promoted to Director of Multifamily Finance. In that capacity she was responsible for the application process and review, allocation, award and closing on all multifamily funding sources administered by the agency, including multifamily revenue bonds, low income housing tax credits, and direct loan (including HOME) funds. Ms. Latsha will assist with development activities on behalf of Pedcor in Texas.

Engineering

CLOSE

Bruce E. Hagen, PE/RLS

Senior Vice President - Development

Bruce E. Hagen, PE/RLS, Senior Vice President - Development

bruceh@pedcor.net

Mr. Hagen has been involved in civil engineering and surveying since 1980. He graduated from the university of Wisconsin-Madison in 1980 with a B.S. in Civil and Environmental Engineering and Surveying and joined Aerometric Engineering in Sheboygan, WI as a project surveyor where he worked in both the surveying and photogrammetric departments.

From 1993 to 2005, Mr. Hagen worked at Mid-States Engineering, Paul I. Cripe and EMH&T Engineers, all of Indianapolis, IN, in various capacities ranging from Project Engineer to Department Head. Most recently, he was the Manager of the Surveying Department at EMH&T Engineers where he directed the day to day activities of the surveying department and acted as the lead engineering designer and project manager for single family developments. In 2005, Mr. Hagen joined Pedcor where he is responsible for the coordination and review of the civil engineering design for all multifamily developments.

Legal

CLOSE

Susan E. Krohne

Senior Vice President & Legal Counsel

Susan E. Krohne, Senior Vice President & Legal Counsel

+1 (317) 705-7921, susank@pedcor.net

Ms. Krohne graduated from Indiana University/Purdue University of Indianapolis in 1994 and earned a Juris Doctor degree from the Indiana University School of Law of Indianapolis in 1998. Prior to joining Pedcor in January of 2003, Ms. Krohne worked as a Vice President & Trust Officer in the Wealth Management Departments of both Bank One and National City Bank. Ms. Krohne is a member of the Indiana State Bar Association and Indianapolis Bar Association (IBA), and is a Distinguished Fellow of the Indianapolis Bar Foundation. She has served on the executive councils of both the IBA’s Women and the Law Division and the Young Lawyers’ Division and served on the Executive Council for the IBA in 2005. In 2004, Ms. Krohne was named Young Lawyer of the Year by the IBA.

CLOSE

Jeremy R. Buchanan

Vice President & Legal Counsel

Jeremy R. Buchanan, Vice President & Legal Counsel

jeremyb@pedcor.net

Mr. Buchanan graduated from Indiana University – Bloomington in 2004 and earned his Doctor of Jurisprudence from Indiana University School of Law – Indianapolis in 2008, where was the recipient of the Mitzi H. Martin Moot Court Award for Best Oral Advocate. Mr. Buchanan joined Pedcor Companies in 2004 as a member of Pedcor Bancorp. In that role, Mr. Buchanan assisted with numerous real estate development projects involving the City of Carmel including the Carmel City Center, Indiana Design Center and Old Town Shops I & II. In addition, he has experience with retail lease negotiation, drafting and landlord/tenant issues.

Mr. Buchanan joined Pedcor Investments as Vice President – Legal Counsel in July, 2014. His responsibilities include assisting the development team with land acquisitions, drafting and review of finance agreements for the construction and development of multi-family housing projects, and advising developers on other project-based issues.

CLOSE

Carolina M. Rashidfarokhi

Vice President & Assistant Legal Counsel

Carolina M. Rashidfarokhi, Vice President & Assistant Legal Counsel

+1 (317) 218-2667, crashikharokhi@pedcor.net

Ms. Rashidfarokhi obtained her first law degree in 2002 from the Universidad Privada Boliviana, that nation’s No. 1 university. She graduated at the top of her class. She received her Masters of Law Degree (LL.M.) in 2005 and Juris Doctor Degree in 2010 from Indiana University School of Law - Indianapolis. She is admitted to practice law in the State of Indiana. Prior to joining Pedcor in 2011, Ms. Rashidfarokhi was a summer associate at Carlton Fields, a Florida based firm. From 2006 to 2009, she worked as a Contract Specialist at Wolters Kluwer Health, a Dutch holding company. During her legal practice in Bolivia, Ms. Rashidfarokhi worked as a Project Manager for the Contract Analysis Group at the Registry of Commerce. Ms. Rashidfarokhi is a member of the American Bar Association, Hispanic Bar Association and Indianapolis Bar Association. Ms. Rashidfarokhi is fluent in Spanish.

CLOSE

Tracey L. Da Silva

Vice President & Executive Legal Assistant

Tracey L. Da Silva, Vice President & Executive Legal Assistant

+1 (317) 587-0336, traceyd@pedcor.net

Ms. Da Silva graduated Summa Cum Laude from Indiana Wesleyan University in 2014 with a Bachelor of Science in Business Administration. She previously attended Indiana University-Purdue University at Indianapolis and International Business College. She joined Pedcor Investments in May, 1993 as an Administrative Assistant, was later promoted to Development Assistant and then to Vice President of Development. In 2002, Ms. Da Silva started her own real estate business and became a real estate agent for RE/MAX Preferred and the Sycamore Group. She returned to Pedcor in 2005. All of these positions have given her experience and insight into multiple aspects of real estate transactions and the development process, and she currently utilizes these skills as a member of the legal department. Prior to working for Pedcor, she worked in the auditing and actuarial departments of the American United Life Insurance Company.

Finance

CLOSE

Andrew H. Burroughs

Senior Vice President - Finance

Andrew H. Burroughs, Senior Vice President - Finance

+1 (317) 587-0348, andy@pedcor.net

Mr. Burroughs graduated from Indiana University in 1978 with a B.S. in Real Estate Administration. Mr. Burroughs worked for Merchants Bank/National City Bank of Indianapolis for over 9 years primarily responsible for placing construction and FNMA DUS permanent debt financing for market rate and affordable LIHTC rental housing. In 1995, he joined Bank One, Indianapolis, as Vice President of Community Development. His responsibilities included facilitating debt and equity investments for affordable 9% LIHTC rental housing, 4% LIHTC tax-exempt bond transactions and historic tax credit renovations for Community Reinvestment Act (CRA) purposes on behalf of Bank One and its related subsidiaries.

In May, 2000, Mr. Burroughs joined Pedcor Investments as Senior Vice President to manage and service existing debt and equity relationships, manage bond arbitrage investments and establish new debt and equity relationships for each of Pedcor’s proposed developments.

He is currently an independent Indiana licensed real estate broker and a Certified Commercial Investment Member (CCIM) candidate. He is also a past Chairman of the Local Advisory Council and member of the Project Review Committee for the Local Initiatives Support Corporation (LISC). LISC is a not-for-profit organization established to provide interim funding and/or grants to facilitate inter-city affordable housing, community development and economic development initiatives for independent community development corporations located within the Indianapolis MSA.

CLOSE

Jared M. Houser

Senior Vice President – Finance & Development

Jared M. Houser, Senior Vice President – Finance & Development

+1 (317) 705-7998, jaredh@pedcor.net

Mr. Houser graduated from the University of Indianapolis in May 2002 and received his M.A. in Economics from Indiana University (Indianapolis) in 2007. Prior to joining Pedcor his experiences include 2-years as an analyst with a local community bank and serving the 2005 session as an intern financial analyst for the Indiana House Ways & Means Committee. Mr. Houser joined Pedcor as an intern during graduate school in April 2005 and accepted a full time position as a financial analyst with Pedcor Bancorp, a bank holding company, in August 2005. He accepted the position of Vice President with Pedcor Investments in October 2007. His responsibilities include financial management, corporate and property budgeting, portfolio management and various analytical activities in connection with Pedcor Investments and its entire portfolio of multifamily properties.

CLOSE

Kathleen M. Ramey

Vice President – Finance

Kathleen M. Ramey, Vice President – Finance

Prior to joining Pedcor, Ms. Ramey had over 23 years of financial and accounting experience in the areas of construction, real estate development and property management. She received her Bachelor of Science in Accounting, with a minor in Computer Science, from Indiana State University in 1980. Kathleen served on the local chapter board of the Institute of Management Accountants from 1984 through 1989, and as chapter president from 1990-1991. Ms. Ramey began her employment with Pedcor Investments in May, 2004.

CLOSE

Dusty A. Israel

Assistant Vice President - Finance

Dusty A. Israel, Assistant Vice President - Finance

disrael@pedcor.net

Mr. Israel graduated from the University of Cincinnati’s College of Engineering with a BS in Civil & Environmental Engineering. Immediately following graduation, he became an onsite engineer for a major General Contractor on multiple hospital construction jobs around the country. He then joined the Procter and Gamble Company as a Global Facility Engineer supporting the company’s Fabric Care plants. While at P&G, Mr. Israel transitioned into a Finance career path and became an analyst for the company’s Chemical’s & Ingredients Purchases organization and in 2014 he earned his MBA from Xavier University with a focus in Finance. Mr. Israel joined Pedcor in the summer of 2014 as a Financial Analyst and is responsible for cash flow and capital management, cash and tax modeling, property budgeting and NOI analysis.

CLOSE

Susan M. Janssen

Assistant Vice President – Finance

Susan M. Janssen, Assistant Vice President – Finance

+1 (317) 218-1028, sdiehl@pedcor.net

Ms. Janssen graduated from the Indiana University Kelley School of Business in 1990 with a BS in Accounting. Immediately following graduation, she spent five months in Accra, Ghana West Africa working as a student intern for a local public accounting firm. Ms. Janssen has over 20 years of accounting and finance experience, having held various positions with Fortune 500 companies, including Plant Controller for The Gatorade Company (then a division of The Quaker Oats Company) and Financial Analyst at Stanley Black & Decker (formerly known as The Stanley Works) in Indianapolis. Ms. Janssen began her employment with Pedcor Investments in December, 2011.

Development Support

Ms. Barbaglia started with Pedcor in April, 1997 as an Administrative Assistant. She advanced to Development Assistant in June, 1999. Kitty works extensively with in-house developers assisting in all aspects of multifamily development, financing and construction related activities. Ms. Barbaglia is also responsible for working directly with the development finance team to obtain, track, and coordinate documentation required by HUD in preparation for the refinance of various Pedcor properties.

In January, 2010 Ms. Barbaglia was given an additional supervisory role as Office Administrator, where her added responsibilities include coordination of the development group’s benefits, maintenance of employee records, implementation of new hire personnel documentation, scheduling of human resource training, and administration of all office supplies and maintenance.

She has been a member of Indianapolis Commercial Real Estate Women (IndyCREW) since 2005, and served on the Board of Directors from 2009-2011. Ms. Barbaglia enjoys golf in her free time. She has also been a member of the Executive Women’s Golf Association (EWGA) since 2007, and has served on the Board of Directors from 2008-2010.

CLOSE

Cheryl E. Bruin

Development Assistant

Cheryl E. Bruin, Development Assistant

+1 (317) 218-1016, cbruin@pedcor.net

Ms. Bruin joined Pedcor Investments in 2005 as a Development Assistant. Prior to joining Pedcor, she was Executive Assistant to the President of Banking at Old National Bank. Ms. Bruin holds an Associate’s Degree in Office Administration and has over twenty years of experience as an Executive Assistant.

CLOSE

Karen Dillon Roth

Development Assistant

Karen Dillon Roth, Development Assistant

+1 (317) 208-3796, kroth@pedcor.net

Ms. Roth graduated from Indiana University with a B.A. in Telecommunications and Forensic Studies. She began her career as a television news journalist, working 10 years as an award-winning TV anchor, reporter and producer at NBC and CBS affiliates in Ohio and Indiana. She then moved into marketing and event management, serving as Director of Public Relations and Communications for the White River Park Development Commission in Indianapolis (1986-89) and Director of Media Relations for the GTE/U.S. Men’s Hardcourt Tennis Championships (1987-89). Ms. Roth also served on the public relations committees for the Pan American Games (1987), the AAU Sullivan Awards (1986-88), and the White River Park State Games (1987-89).

After time off to raise her children, Ms. Roth accepted a position in 2000 with the Sapp Companies, serving in a variety of capacities including Director of Public Relations, Account Manager, and Office Manager. She served as Director of Advertising for ASO Magazine from 2004-2007.

Ms. Roth joined Pedcor in 2007, where her current responsibilities include assisting in the preparation of investment proposals and applications, conducting market surveys, and providing overall office and administrative support to the development team.

CLOSE

Heather L. Bennett

Administrative Assistant

Heather L. Bennett, Administrative Assistant

hbennett@pedcor.net

Ms. Bennett graduated from Pensacola Christian College in 2009 with a B.S. in Legal Office Administration. She joined Pedcor Investments in 2011 where she works as an Administrative Assistant in the Development department. Prior to joining Pedcor, Ms. Bennett was a Customer Service Representative for Pitney Bowes in the Indianapolis law firm of Barnes & Thornburg.

Close

Marketing

Pedcor City Center Development Company was established in 2003 to develop Pedcor’s corporate campus in Carmel, Indiana. Pedcor was approached by the Mayor of Carmel, James Brainard, and the Carmel Redevelopment Commission in 2004 to design and develop its new Carmel City Center.

The Pedcor Marketing Department was formed in 2004 as a division of Pedcor City Center Development Company to conduct market research, promote, and lease the Carmel City Center project and other Pedcor developments. By 2005, Pedcor began to expand its presence in Carmel by participating in public/private partnerships in the city’s downtown. These projects consist of Carmel Old Town Shops, Indiana Design Center and The Commons at City Center.

The Pedcor Marketing Department continues to increase its staff to accommodate project growth, while also employing highly-experienced consultants in the field of mixed-use and commercial development.

For further information on Pedcor’s Carmel projects, please call 866-892-8990.

The Department of Real Estate Tax Appeals and Support consists of Maureen M. Hougland, Debra A. Myers, and Lindsey Hougland. This team provides several services for all other departments at Pedcor Companies.

Real estate taxes and assessments for all Pedcor properties are the responsibility of this department. The taxes are reviewed and appeals filed when deemed necessary. Meetings and hearings are held with various assessors and with the appropriate property tax appeal boards and commissions to ensure Pedcor pays its fair share of property taxes as required by various State laws. Real estate tax estimates are provided to accounting for all properties for annual budgets, and all real estate tax payments are reviewed and approved prior to payment.

This department is also responsible for the Pedcor portfolio, HUD and corporate compliance, including, but is not limited to, entity formation, annual reporting, and HUD affidavits for inspection issues, critical and non-critical repairs, Previous Participation filings, Management Entity Profiles, Project Owner’s/Management Certification for Multifamily Housing Projects for Identity of Interest or Independent Management Agents, and identity of interest of all owners, as well as serving as the HUD APPS coordinator. Construction licensing and annual renewals are handled by this Department on behalf of Signature Construction, Pedcor Construction Corp. and Pedcor Construction Management, LLC.

Team Members

CLOSE

Maureen M. Hougland

Senior Vice President of Pedcor Investments, LLC

Maureen M. Hougland, Senior Vice President of Pedcor Investments, LLC

+1 (317) 587-0346, maureenh@pedcor.net

Born January 5, 1958, Ms. Hougland has over 34 years real estate experience since graduating from Indiana University in 1980 (BS – Biology). Her real estate background began when she was hired as the pilot employee for Monroe County Land Title Co., Inc. upon its formation in 1980, where she performed a multitude of duties which included searching titles, examining chains of titles, reviewing surveys, closing residential and commercial transactions and serving as escrow agent for financial institutions distributing draws on behalf of residential and commercial developers. Ms. Hougland joined the Real Estate Section of Ice Miller Donadio & Ryan in 1984, where she provided paralegal support for the Section which represented commercial and multi-family real estate developers, lenders and investors, primarily in the areas of financing and development issues.

Ms. Hougland obtained her Paralegal Degree from Indiana University in 1988. She is a member of the Indiana Paralegal Association. In 1994, Ms. Hougland joined Pedcor Investments where she provided paralegal support to Pedcor and its related affiliates. Ms. Hougland is now responsible for all real estate tax appeals and assessments in Pedcor’s portfolio as well as all of its affiliates in addition to providing support to Development, Management and Signature, Construction, LLC. Ms. Hougland has served as a panelist for the Indiana Housing Finance Authority. She serves as a corporate officer for Pedcor and all of its affiliates, and is currently a member of the Board of Directors of Pedcor Affordable Management, Inc., Anderson Hall Homeowner’s Association, Inc. and past Board member of the Sommerwood Homeowners Association, Inc. She was a charter member of the Indianapolis Chapter of CREW (Commercial Real Estate Women) and is a member of NAPW (National Association of Professional Women). Ms. Hougland serves on the Legislative Committee of the Indiana Apartment Association and resides in Carmel, Indiana.

CLOSE

Debra A. Myers

Legal Assistant and Section Coordinator

Debra A. Myers, Legal Assistant and Section Coordinator

+1 (317) 705-7916, dmyers@pedcor.net

Ms. Myers joined Pedcor Investments in 2004 as a legal assistant to Maureen Hougland. Prior to joining Pedcor, Ms. Myers worked as a Residential Real Estate Broker for 10 years, and local law firms for 9 years in bankruptcy, bond, corporate and commercial real estate law. Ms. Myers is a licensed Indiana Real Estate Broker.

CLOSE

Lindsey Hougland

Administrative Assistant

Lindsey Hougland, Administrative Assistant

+1 (317) 587-0349, lhougland@pedcor.net

Lindsey Hougland graduated from Indiana University in 2011 with a BA in Biology. Her real estate background began in high school when she worked for Pedcor Companies in the Development department. She performed many administrative duties there as well as obtaining and compiling market study data. She resumed her work at Pedcor Companies in March 2012. She is responsible for administrative duties for the President as well as assisting with tax appeals by obtaining and compiling all of the necessary information for the appeals in Pedcor’s portfolio. Ms. Hougland is also responsible for helping to complete the NIFA compliance reporting and forms annually for Pedcor’s properties located in Nebraska. Additionally, Ms. Hougland has completed an online Finance course through Coursera, and she will pursue her MBA in the near future.

Pedcor is Indiana's leader in the development and management of affordable housing under the tax credit program. Pedcor's success is the direct result of comprehensive planning in the areas of marketing research and construction techniques. Timely demographic studies, comparable property reports, and design trends are tools we use to develop apartment communities that are appealing to everyone.

Our overall property design evolves and improves with each new community. Pedcor has always followed the highest industry standards for construction and energy efficiency. Most Pedcor properties today receive federally-designated Energy Star certification. Pedcor properties include all standard necessities, plus upgrades and amenities not common in many competing affordable housing projects. In most of the communities we build today, our standard amenities package is extensive and impressive.

Individual Entryways

Instead of a common area hallway, we give our tenants individual access to their units. This provides private ingress and egress, and eliminates hallway maintenance and noise.

Separate Dining Areas

The separate area for dining provides a comfortable space conducive to family dining, just like in modern homes.

Room Design

Room sizes are designed to easily accommodate one to six occupants. Careful space planning is necessary to accommodate furniture, beds and appliances. Phone jacks and electrical outlets are placed for easy access.

Large Private Storage

Washer/Dryer Closet Hook-ups

On-site laundry facilities are provided at each community, but residents preferring not to transport laundry away from their apartments can have washers and dryers installed in their units. This is especially convenient in bad weather.

Private Patios and Balconies

Every Pedcor unit includes a patio or balcony that is ideal for sunning, relaxing or decorating.

Patio Doors

Insulated doors with an Energy Star rating and five year warranty are now standard.

Bathrooms

Residents desire plenty of vanity space and large mirrors. Our vanities have several drawers for storage, and all bathrooms feature large wall-mounted vanity mirrors.

Curb Appeal

Abundant landscaping is provided and maintained by professional landscape companies for a widely-appreciated aesthetic. Each property is inspected and cleaned daily to provide a favorable first impression for newcomers, and to enhance the experience of our residents. Detailed inspections are performed quarterly, and any necessary maintenance is performed on a timely basis.

Standard Unit Amenities

Dishwasher

Garbage disposal

Frost-free refrigerator

Electric range with self-cleaning oven

Range hood

Double kitchen sinks

Pantry

Wood-paneled kitchen cabinets

Separate dining area

Vanity/dressing area

Washer/dryer hook-ups

Mini and vertical blinds

Wall to wall carpeting or luxury vinyl tile

Ceramic tile bathroom and kitchen

Built-in light fixtures

Linen closet

Walk-in closets

Built-in shelving in closets

Patio or balcony

Private exterior storage

Central air conditioning

Energy Star certified heating and cooling systems

Energy Star windows and sliding glass doors

Cable ready

High-speed Internet

Deadbolt locks and peepholes

Smoke detectors

Lake views

Standard Community Amenities

Swimming pool with sundeck (most communities)

Clubhouse

Central laundry area

Playground/tot lot

Fitness Center

Business Center

Picnic tables and BBQ grills

Carports and/or parking garages

Lake

Clubhouse Building

Each Pedcor community includes a full service clubhouse facility including rental office, community room with complete kitchen amenities, computer center, exercise room, playground area, maintenance facility, and usually a swimming pool.

Building Design

Every Pedcor building is designed to enhance curb appeal and constructed to provide long-term durability. Brick, aluminum fascia and soffit are almost maintenance free. The fiber cement siding or vinyl siding has a fifty (50) year non-prorated warranty that is transferable.

Windows

Parking

Careful attention goes into the selection of the appropriate number and location of parking spaces. Carports and Garages are built in most of our communities. Specific locations and totals are based on the types of units on each property. Often, Pedcor’s minimum standard for parking spaces per unit exceeds local zoning code requirements.

Maintenance

A qualified person is available to perform routine, preventative and 24-hour emergency maintenance. Procedures are available in a Standard Operating Manual.

Market Surveys

Market surveys are performed by management prior to opening, then quarterly during the operation of the community. This serves as a development feasibility indicator and a reference for comparing the competition.

Marketing

Pedcor pre-markets its properties prior to the completion of the first building. We go beyond the normal marketing concept. Prospects can talk with a representative months before construction is complete. These prospects receive a personal opening announcement and brochure. Dozens of employers receive brochures prior to opening via a specifically designed outreach program. Our goal is to have pre-leasing in place as each building becomes ready for occupancy.